LPs

NEPC recommended San Bernardino commit $575m to private equity over the next two to three years.

The public pension fund is nearing its target allocation.

LPs remain overstressed, overworked and overburdened.

'Given that we don’t think the fundraising pace is going to pick up dramatically in 2024, then we will continue to take our time to ensure we’re backing the right partners while getting appropriate terms – and we’ll weigh our options if that’s what is required.'

The system is also looking to ramp up its private credit and real assets programs.

The system is like many other LPs who have reduced pacing schedules due to overallocation to the asset class.

Currently, Kim is an investment director working on the private equity team at the California Public Employees Retirement System.

The system sees inefficiencies – and deals to be had – at the lower end of the marketplace.

Has the fundraising market found a level of footing? StepStone’s data suggests this is a possibility.

The State of Wisconsin Investment Board and Florida State Board of Administration both expressed unfavourable views on NAV-based instruments on a webinar hosted by PEI Group.